Overview
CommSec is the share trading arm of the Commonwealth Bank and the default broker for a lot of Australians, with close to 3 million customers. It suits investors who already bank with CommBank and want ASX shares, ETFs and a bit of global exposure in one place, more than it suits active traders hunting the lowest fees. Commonwealth Securities Limited is regulated by ASIC under AFSL 238814 and has been around since 1995.
Accounts and costs
The main Share Trading Account is cheapest when trades settle through a linked Commonwealth Direct Investment Account (CDIA). Settle from any other account and you'll pay a flat $29.95 on trades under $10,000, which catches a lot of people out. CommSec Pocket lets you start with $50 in a list of ten ETFs and currently has $0 brokerage on those. There are also accounts for international shares, ASX options, margin lending and SMSFs, plus joint, company and trust ownership. Phone trades cost at least $59.95.
Platforms and markets
Everything runs on CommSec's own website and mobile app, with watchlists, alerts, a home-screen widget, Morningstar recommendations and daily notes from CommSec's analysts. You can buy over 2,000 ASX-listed companies, ETFs, warrants and MINIs, options and fixed income, plus shares in the US and 12 other markets across Europe and Asia. Fractional shares are only available on the international side. There's no forex, CFDs or crypto, and no MetaTrader or TradingView.
Money in and out
Most customers fund through a CDIA, which links to NetBank, so moving money between your bank and trading accounts is quick and free. Sale proceeds land back in the CDIA and you can transfer them out from there. Moving money in from another bank can take a couple of days.
Good
- Owned by the Commonwealth Bank and regulated by ASIC
- Access to 2,000+ ASX companies plus the US and 12 other global markets
- CommSec Pocket makes ETF investing easy from $50
- Options, warrants, margin lending and SMSF accounts all under one roof
- Daily market research from CommSec's own analysts and Morningstar recommendations
Watch for
- Brokerage jumps to $29.95 if you don't settle through a CDIA
- Cheaper ASX brokers like Stake and SelfWealth undercut it on fees
- No forex, CFDs or crypto, and no third-party platforms like MetaTrader
- Fractional shares only on international markets, not the ASX
- Phone trades carry a $59.95 minimum
Accounts and costs
What each account needs to open and what you pay to trade on it.
| Account | Min deposit | Pricing | Max leverage |
|---|---|---|---|
| Share Trading Account | — | Lower brokerage when settled through a CommSec CDIA; a flat $29.95 for trades under $10,000 settled from any other account | — |
| CommSec Pocket | — | Invest from $50 in a short list of ETFs, with $0 brokerage on Pocket ETFs | — |
| International Shares | — | US shares plus 12 more global markets, fractional shares available | — |
| Options Account | — | ASX options, with additional fees on top of share brokerage | — |
| Margin Lending | — | Interest on borrowed funds, tiered by loan size | — |
Regulation
Which entity holds which licence. Your protection depends on the entity you open an account with.
Platforms and markets
Platforms
Markets
Deposits and withdrawals
- Methods
- Bank transfer
- Minimum deposit
- —
What traders say
Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.
CommSec is Australia's most widely used share trading platform, but the people who write reviews about it are mostly unhappy. Its Trustpilot page has only about 40 reviews and the evidence collected does not show its current score; review sites put it at around 2 out of 5. ProductReview.com.au has a larger and largely negative set of reviews, again with no score in the evidence. Reddit discussion is calmer: Australians there accept CommSec as safe and convenient for CommBank customers, and mainly object to its prices.
What traders like
Convenience for CommBank customers. Many Reddit users say they stay because CommSec links straight into their CommBank accounts and app.
Trust in the brand. Being owned by a big bank is a common reason people give for choosing it, especially beginners.
Some helpful staff. A few ProductReview reviewers praise individual staff who sped up applications, and one Reddit user rates the expedited support line.
Common complaints
High brokerage. The most repeated point on Reddit is that fees, such as 29.95 AUD on small trades, are well above cheaper CHESS-sponsored brokers.
International shares. Reviewers on Trustpilot, ProductReview and Reddit describe the international trading platform as clunky, with mixed currency displays and automatic currency conversion fees.
Accounts suspended or closed. Several reviewers say accounts were suspended or shut without warning, including accounts of deceased estates, and that it took many calls to find out why.
Slow, inconsistent support. Some describe long phone holds, contradictory advice and heavy paperwork for transfers out.
Recently
October 2026: the newest Trustpilot reviews complain that the portfolio view was removed and that an account was closed without notice or a promised callback.
Where this comes from
Trustpilot: CommSec's review page, a small sample.
Forex Peace Army: a stock broker listing with little review activity.
ProductReview.com.au: the main Australian review site for CommSec.
Reddit: an r/AusFinance thread on why CommSec is rarely recommended.
Verified reviews
Reviews from traders who've connected an account at CommSec to Chartnaut, so you know they actually traded there. Opening soon.